VANCOUVER, Nov. 19, 2018 /CNW/ - Goldplay
Exploration Ltd. (TSXV: GPLY, OTCQB: GLYXF) ("Goldplay" or the
"Company") is pleased to announce that the Company will
undertake a private placement of up to 6,818,182 units (the
"Units") at a price of CDN$0.22 per
Unit for gross proceeds of up to CDN$1,500,000. Each Unit shall be comprised
of one common share in the capital of the Company (each, a "Share")
and one-half (½) of one common share purchase warrant of the
Company (each whole warrant, a "Warrant"), with each Warrant being
exercisable into one common share (the "Warrant Shares") for a
period of two years from the date of issuance of the Warrants at an
exercise price of $0.25/Warrant
Share; except that, from and after the date that is four months and
1 day after the date of issuance of the Warrants, in the event the
closing price of the Company's common shares on the TSX Venture
Exchange (the "TSX.V") is at least $0.65/share for any 10 consecutive trading days
during the Warrant exercise period, then the Company may anytime
thereafter accelerate the expiry date of the Warrants to the date
that is 10 days following the date on which the Company issues
notice to all the Warrant holders of the new expiry date (and the
Company will also issue a press release on the same date as it
issues notice confirming the new expiry date of the Warrants).The
proceeds of the private placement will be used for exploration and
property taxes on the Company's properties in Mexico and general and administration costs
for its operations in Mexico and
Canada.
The Company may pay finders' fees comprised of cash and/or
warrants in connection with the private placement, subject to
compliance with the policies of the TSX.V. Completion of the
private placement and the payment of any finders' fees remain
subject to the receipt of all necessary regulatory approvals,
including the approval of the TSX.V.
About Goldplay Exploration Ltd.
Goldplay owns a >250 sq. km exploration portfolio in the
historical Rosario Mining District, Sinaloa, Mexico. Goldplay's current
exploration focus includes surface exploration and drilling, with a
resource update to follow at the advanced-stage San Marcial Project
and follow up exploration program at the El Habal Project.
The San Marcial land package consists of 1,250 ha, located south
of the La Rastra and Plomosas
historical mines and 20 km from the Company's 100% owned El Habal
Project in the Rosario Mining District, Sinaloa, Mexico. San Marcial is an attractive,
near-surface high-grade silver, lead and zinc project for which a
historical resource estimate has been previously disclosed.
San Marcial exhibits significant exploration upside supported by
regional exploration programs completed by previous operators who
identified 14 exploration targets similar to San Marcial within its
100% Goldplay-owned concessions. Some of these exploration targets
consist of old shallow pits, caved shafts and historical
underground workings in areas with extensive hydrothermal
alteration, hosted by major regional structures.
The El Habal Project is a drilling stage project with an ongoing
drill program. The oxidized gold mineralized zone outcrops along a
series of rolling hills with evidence of historical shallow
underground mining along a 6 km long prospective corridor. The El
Habal Project is located near the historical gold-silver Rosario
Mine which reportedly operated for over 250 years. Goldplay's team
has over 30 years of experience with senior roles in exploration,
financing, and development in the mining industry, including over
ten years of extensive exploration experience in the Rosario Mining
District, leading to previous successful discoveries. A current NI
43-101 report on the El Habal Project is filed on SEDAR.
Disclaimer for Forward-Looking Information
This press release contains forward-looking statements and
information that are based on the beliefs of management and reflect
the Company's current expectations. When used in this press
release, the words "estimate", "project", "belief", "anticipate",
"intend", "expect", "plan", "predict", "may" or "should" and the
negative of these words or such variations thereon or comparable
terminology are intended to identify forward-looking statements and
information. Such statements and information reflect the current
view of the Company. Risks and uncertainties may cause actual
results to differ materially from those contemplated in those
forward-looking statements and information. By their nature,
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause our actual results,
performance or achievements, or other future events, to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. THE FORWARD-LOOKING INFORMATION CONTAINED IN
THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF
THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO
CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE
ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS
INFORMATION AS OF ANY OTHER DATE. WHILE GOLDPLAY MAY ELECT TO, IT
DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR
TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE
LAWS.
Mr. Marcio
Fonseca,
P. Geo, President & CEO
Goldplay Exploration
Ltd.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accept responsibility for the adequacy or
accuracy of this press release.
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SOURCE Goldplay Exploration Ltd